Another $438M In Crypto Longs Gone As Bitcoin, Altcoins Pull Back
Data shows cryptocurrency derivatives exchanges have racked up liquidations as Bitcoin and other assets have gone through a price retrace.
The deal was funded through the issuance of Canaan shares valued at roughly $39.75 million, making Cipher a significant shareholder.
The crypto market has started the week under pressure as macroeconomic uncertainty and trade tensions unsettled investors, briefly pushing Bitcoin below $65,000 and driving a surge in online panic signals. The latest decline has closely followed global economic headlines rather than crypto-specific factors.
February 24, 2026, 4:00 amBitcoin price failed to stay above $66,000 and dipped further. BTC is now consolidating losses and might struggle to recover above $66,000. Bitcoin started a fresh decline and traded below the $66,000 support. The price is trading below $65,500 and the 100 hourly simple moving average.
February 24, 2026, 2:38 amData shows cryptocurrency derivatives exchanges have racked up liquidations as Bitcoin and other assets have gone through a price retrace.
Bitcoin (BTC) could be gearing up for further losses, as a crypto analyst has issued a severely foreboding forecast.
Bitcoin’s often-cited “Ramadan rally” setup may be fading in 2026. However, the volatility pattern many traders have watched in recent years still appears to be present. To be clear, the holiest month in Islam has nothing to do with digital assets.
Bitcoin’s recent wobble has traders on edge, but the picture is not all one-way. Reports note heavy losses for late buyers, and on-chain figures show real money changing hands as positions are forced closed. Markets moved fast; the mood did too.
A thread sparked by Bloomberg ETF analyst Eric Balchunas reignited one of crypto’s oldest arguments: whether Bitcoin’s core value proposition has been diluted as institutional intermediaries take center stage.
The spot Bitcoin ETFs recorded four straight months of outflows, with hodlings down 85,000 BTC since October 2025.
Crypto markets fell sharply as Bitcoin and Ethereum led a liquidation-driven sell-off, with leveraged longs unwound across major exchanges.
Crypto personality Anthony Pompliano's Bitcoin treasury firm is buying back shares as the firm trades well below its asset value.
Traders struggle to determine if the crypto market bottom is in, but liquidity fears, AI industry valuation worries, and BTC mining strength could send Bitcoin back to $75,000.